Buy a Business

Buying a business means finding a company that fits your style.

If you’re looking to buy a business, it’s not exactly like buying a tie or scarf—if you like it, buy it, no fitting involved. No, a business has to fit you like a bespoke suit. Sure it helps if you like the business, but affinity is not necessarily a predictor of success. Burke & Schindler has helped scores of clients who were once employees become successful employers by finding the right business, paying the correct price, and operating it at the highest possible level.

The Right Way to Find and Buy a Business

Finding the right business—like finding a great job—is itself a full-time job. Burke & Schindler is a great first stop on this journey because our strategic advisors are well connected to both the business broker community and entrepreneurs who are selling their businesses on their own. In addition, we’ve often acted as an agent for both buyers and sellers. When acting on behalf of a buyer, we utilize our numerous contacts in the banking, legal and private equity communities to source a company that matches our client’s criteria. This process takes stamina since the best companies, like desirable homes in the correct neighborhoods, often sell before they hit the market.

To get that bespoke fit, the business must meet two essential criteria. The first is price. It’s no use taking a run at a company you can’t afford. However, using a combination of your own capital—say 25 percent of the purchase price—the bank for another 50 percent and the seller financing for the last 25 percent, you may able to go bigger than you had originally expected. As veteran advisors, we at Burke & Schindler only put together deals that we believe will work financially and within our clients’ risk tolerance.

Meeting the second criteria is a little tougher since it involves an objective analysis of the buyer’s skills. Although buyers may make some money by buying right, the real money is made when the buyer adds some specific value to the new enterprise. We always suggest buyers find a company where their skill set, usually in production or sales, adds a new dimension to the existing business that will promote or maybe even ensure sustainable and profitable growth. This is evidence of a perfect fit.

Buy a Business with Burke & Schindler

Although there is an active market for private companies, there is no national exchange where the proper price for businesses can be confirmed. However, through years of experience, a thorough understanding of capital markets and access to databases of private company sales, Burke & Schindler can help put the correct price tag on your acquisition. This is only the first step. From here, we help negotiate the deal, from the broad terms of the buyer’s letter of intent to the seller to the finer points of the asset purchase agreement. This is done with a keen eye on not only mitigating business risk but also creating tax-efficient future operations.

Unlike a used car where you’re buying someone else’s problems, buying a “used” business allows the new owner to turbocharge the business with new energy and talent, creating new value through higher and more consistent profits and, as a result, a higher price when it’s time to sell.

Although this may seem daunting, Burke & Schindler have worked with clients through this process successfully so many times, we guarantee a good result and even a little fun along the way. Contact one of our advisors today as you consider buying a business for yourself.

Accelerate: 20 High Performance Questions To Supercharge Your Business

If your business is stalled and you find you're spending more time solving problems than executing growth strategies, it's time to answer the 20 High Performance Questions. Honest answers will map your business' route to your new destination of high profit and durable value while leaving your competition in the dust.

In a business environment where growing profits is considered unattainable and flat is the new up, Patrick Burke sees opportunity. Now, when your competitors are struggling, is the best time to add market share and new products. While everyone else is backing off the throttle, accelerate, take the lead, and keep it.

The 20 High Performance Questions provide the definitive guide for you to develop best practices in the most critical aspects of your business-- so hop in, buckle up, turn the key, and let's see what your supercharged business can do!